Quebecor CEO not to vote in favour of Air Canada-Transat transaction

20 August, 2019

Quebecor president and CEO Pierre Karl Péladeau, who owns a 1.6% stake in Transat AT, said he does not plan to vote in favour of the proposed transaction between Transat and Air Canada as it would be "contrary to the public interest" (Reuters/Delta Optimist, 19-Aug-2019). Mr Peladeau, speaking as a shareholder, noted he plans to issue a proposal. Air Canada submitted a response to Mr Peladeau, stating he "tried to structure an unsuccessful offer", and stated the proposed transaction between Transat and Air Canada is "advantageous and in the best interest not only of the two companies, but also of their employees, Quebec consumers and the Quebec economy".